At the end of 2024, advances in quantum computing technology seemed to arrive at a dizzying pace. The race to develop this promising, game-changing technology seems to only be speeding up. Major tech players have dominated some of the headlines—Alphabet Inc. (NASDAQ: GOOG), for example, announced in early December its Willow chip, capable of completing in about five minutes a computation that would take non-quantum supercomputers an astonishing 10 septillion years to finish.
Up-and-coming participants in the quantum space are also making a splash. Quantum Computing Inc. (NASDAQ: QUBT) announced in mid-December a major contract with NASA. In response, shares of QUBT skyrocketed, climbing by more than 450% in the last month as of December 19. This brings their 1-year total return as of the same day to a whopping 1,420%.
